M&A Deal Summary

Targa Resources Acquires Dynegy - Midstream Natural Gas Business

On August 2, 2005, Targa Resources acquired energy services and equipment company Dynegy - Midstream Natural Gas Business from Dynegy for 2.4B USD

Acquisition Highlights
  • This is Targa Resources’ 3rd transaction in the Energy Services and Equipment sector.
  • This is Targa Resources’ 3rd largest (disclosed) transaction.
  • This is Targa Resources’ 3rd transaction in the United States.
  • This is Targa Resources’ 2nd transaction in Texas.

M&A Deal Summary
Date 2005-08-02
Target Dynegy - Midstream Natural Gas Business
Sector Energy Services and Equipment
Buyer(s) Targa Resources
Sellers(s) Dynegy
Deal Type Divestiture
Deal Value 2.4B USD

Target

Dynegy - Midstream Natural Gas Business

Houston, Texas, United States
Dynegy, Inc. - Midstream Natural Gas Business include approximately 9,300 miles of natural gas gathering pipeline systems and 11 operated gas plants.

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Buyer(S) 1

Buyer

Targa Resources

Houston, Texas, United States

website

Category Company
Founded 2005
Sector Energy Services and Equipment
Employees2,372
Revenue 20.9B USD (2022)
DESCRIPTION

Targa Resources is an independent midstream energy companies in the U.S., providing gas gathering, processing, fractionation and transportation through an extensive portfolio of integrated midstream assets. Targa Resources was founded in 2005 and is based in Houston, Texas.

DEAL STATS #
Overall 3 of 12
Sector (Energy Services and Equipment) 3 of 10
Type (Divestiture) 2 of 5
State (Texas) 2 of 5
Country (United States) 3 of 12
Year (2005) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-02 Bridgeline

New Orleans, Louisiana, United States

Bridgeline LLC is an owns and operator of over 1,000 miles of intrastate natural gas pipelines and two fully integrated storage facilities with 12.7 Bcf of working gas capacity.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-30 Venice Energy Services

Venice, Louisiana, United States

Venice Energy Services Co. LLC is consists of two cryogenic trains with a total processing capacity of 750 MMcf/d and a FERC regulated pipeline (the "Venice Gathering System") that gathers gas from the outer continental shelf of the Gulf of Mexico.

Buy -

Seller(S) 1

SELLER

Dynegy

Houston, Texas, United States

website

Category Company
Founded 1984
Sector Utilities
Employees2,591
Revenue 3.9B USD (2015)
DESCRIPTION
Entrance to Dynegy's corporate headquarters in Houston, Texas.
Entrance to Dynegy's corporate headquarters in Houston, Texas.

Dynegy, Inc. is a provider of wholesale power, capacity and ancillary services to utilities, cooperatives, municipalities, and other energy companies across the US. Dynegy was formed in 1984 and is based in Houston, Texas.

DEAL STATS #
Overall 2 of 3
Sector (Energy Services and Equipment) 1 of 2
Type (Divestiture) 2 of 3
State (Texas) 1 of 1
Country (United States) 2 of 3
Year (2005) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-02-04 Illinois Power

Decatur, Illinois, United States

Illinois Power Co. is an electric power utility.

Sell $2.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-27 Rolling Hills Generating

Wilkesville, Ohio, United States

Rolling Hills Generating LLC is a simple-cycle plant that provides electric generating capacity to the PJM Interconnection market during periods of peak demand. Rolling Hills Generating was founded in 2003 and is based in Wilkesville, Ohio.

Sell -
Mergr

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